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Cathie Wood Buys Another $1.6M In Netflix And Trims Stake In Chipmaker NXP By $14.8M

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Cathie Wood Buys Another $1.6M In Netflix And Trims Stake In Chipmaker NXP By $14.8M

Cathie Wood-led Ark Investment Management on Tuesday bought 3,182 shares, estimated to be worth about $1.6 million, in video streaming company Netflix Inc (NASDAQ: NFLX) on the dip.

Netflix shares, which fell as much as 1% on Tuesday, closed 0.74% lower at $499.08 at the end of the trading day.

The investment firm bought the shares of the company via its Ark Space Exploration & Innovation ETF (BATS: ARKX) and also holds shares via the ARK Next Generation Internet ETF (NYSE: ARKW).

ARKX and ARKW together held 149,701 shares, worth about $75.27 million in Netflix ahead of Wednesday’s trade.

See Also: Cathie Wood Buys Another $42M In Twitter Stock, Also Adds DraftKings, Netflix

The popular investment management firm sold 71,584 shares, worth about $14.88 million, in NXP Semiconductors N.V. (NASDAQ: NXPI) on a day when shares of the Dutch semiconductor company closed 1.6% lower at $207.91.

Ark bought the shares of the company via the Ark Autonomous Technology & Robotics ETF (BATS: ARKQ). No other Ark ETF holds shares of the company.

See also: How to Buy Netflix Stock

NXP Semiconductors is among other chipmakers that find themselves in the middle of a chip shortage that has left global automakers and other electronics manufacturers scrambling for supplies. 

ARKQ held 526,985 shares, worth about $111.42 million, in NXP Semiconductors, ahead of Wednesday’s trade. Ark Invest had last sold shares in NXP Semiconductors on March 27.

Some of the other key Ark Invest sells on Tuesday included Pinduoduo Inc (NASDAQ: PDD)  and buys included Vuzix Corp (NASDAQ: VUZI) and the SPAC Jaws Spitfire Acquisition Corp (NYSE: SPFR).

See Also: Cathie Wood Buys $13.5M In Smart Glasses Supplier Vuzix On Dip

 

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